Updated pension rules for govt staff: Centre clarifies rules about last working day of employee for pension calculation - The Economic Times
The Central Government has issued a clarification regarding the pension calculation process for retiring employees, addressing confusion over the last working day’s treatment in pension benefits. According to the new clarification, an employee’s last working day will be counted as a full day of service for pension computation, even if retirement falls on the last day of a month. This update ensures uniformity in applying pension rules and eliminates discrepancies in calculating the qualifying service period. The clarification comes after several representations from departments seeking clarity on whether the last working day should be included in the service duration. With this change, government staff can expect more transparency and accuracy in pension processing. The move aims to simplify retirement settlements and align practices across departments, ensuring that no employee faces undue loss of pension benefits due to misinterpretation of rules.
The Key points
- Centre clarifies pension calculation for retiring government staff.
- Last working day will now count toward pensionable service.
- Clarification issued after multiple departments sought clarity.
- Applies to all central government employees uniformly.
- Ensures consistent calculation of qualifying service period.
- Aims to avoid confusion in retirement benefit processing.
- Retirement on month-end now considered full service.
- Enhances transparency and accuracy in pension computation.
- Helps employees receive rightful pension entitlements.
- Aligns departmental practices with central pension guidelines.
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